1. Field of the Invention
The present invention relates to a system for converting paper money orders to electronic money orders which can be used to make online payments.
2. Description of the Prior Art
There are prior inventions for systems of electronic payment, but none that are equivalent to the present invention. The current paper money order process may be summarized as follows:
Customer goes to a vendor or retailer of paper money orders.
Vendors and retailers of paper money orders are Giant, Safeway, Shoppers, 7-Eleven, banks, check cashing outlets, neighborhoods supermarkets, liquor stores, and convenience stores. Basically paper money orders can be purchases in a variety of locations.
Customer purchases a paper money order.
Note: a paper money order costs about $0.00 to about $2.00 depending on the vendor or retailer.
Paper money orders come in denominations as small as under $1.00 to as high as 1,000.00.
Despite the denomination purchased the cost varies between $0.00 and $2.00.
Note: paper money orders are used by sections of society to pay bills such as rent, taxes, fees, electric, gas, tuition, and fines. Basically paper money orders are used to pay a variety of bills.
When paper money orders are purchased and printed out at a vendor or retailer location there are tracking and tracing numbers on the front and back of the paper money order that identify the vendor or retailer location, the paper money order company and bank, and the dollar value of the paper money order.
There are a number of paper money order companies: such as Global Express, Western Union, and Money Gram to name a few.
U.S. Pat. No. 5,717,868, issued on Feb. 10, 1998, to David L. James, discloses an electronic payment interchange concentrator, which may be used for money orders (see claim 55, column 15). It does not include the generation of unique account numbers for money orders, as in the instant invention.
U.S. Pat. No. 7,110,978, issued on Sep. 19, 2006, to Stephen Chin, discloses an Internet-based money order system, which is connected to an auction for goods, and requires the entry of credit card information (see claim 1, column 5). The instant invention is distinguishable, in that it is not connected to an auction for goods, and does not require the entry of credit card information.
U.S. Pat. No. 7,349,884, issued on Mar. 25, 2008, to Pat Odom et al., discloses a method for processing bill payment at a point of sale location, which may be used to purchase money orders. The instant invention is distinguishable, in that it uses information from a previously purchased paper money order, and generates a customer account number for money orders only.
U.S. Pat. No. 7,613,653, issued on Nov. 3, 2009, to Susan M. Milberger et al., discloses a method for transferring a credit amount out of an online system using a money order. It may involve creating a temporary stored value fund (see claim 8, column 14). Again, the instant invention is distinguishable, in that it uses information from a previously purchased paper money order, and generates a customer account number for money orders only.
U.S. Pat. No. 7,620,603, issued on Nov. 17, 2009, to Clark S. Gilder and Michael G. Lalonde, discloses systems and methods using paperless “Check 21” items. The instant invention is distinguishable, in that it uses information from a previously purchased paper money order, and generates a customer account number for money orders only.
U.S. Pat. No. 7,660,771, issued on Feb. 9, 2010, to Laura Lee Orcutt, discloses a technique for automatically converting checks to ACH debits. It does not apply to money orders (see column 4, lines 55-62).
U.S. Pat. No. 7,753,267, issued on Jul. 13, 2010, to Kurt Hansen and Thomas Sayor, discloses “in-lane” (while shopping at a retail outlet) money transfer systems and methods. The instant invention is distinguishable, in that it uses information from a previously purchased paper money order, and generates a customer account number for money orders only.
U.S. Pat. No. 7,849,015, issued on Dec. 7, 2010, to Michael S. Opiela and Ronald E. Garey, discloses an electronic postal money order method and system. The instant invention is distinguishable, in that it uses information from a previously purchased paper money order, and generates a customer account number for money orders only.
U.S. Pat. No. 7,909,237, issued on Mar. 22, 2011, to Todd Tredeau and Vasil Kostov, discloses a monetary transaction system and method having an internet interface. The instant invention is distinguishable, in that it uses information from a previously purchased paper money order, and generates a customer account number for money orders only.
U.S. Pat. No. 7,959,069, issued on Jun. 14, 2011, to Cheryl Phillips and David Smith, discloses systems and methods for electronically processing check transactions via a location-base device. “Check” includes money orders (see column 7, lines 12-16). The instant invention is distinguishable, in that it uses information from a previously purchased paper money order, and generates a customer account number for money orders only.
U.S. Patent Application Publication No. 2002/0065666, published on May 30, 2002, to Jose Ignacio Zorrila De San Martin Soto, discloses a method and system for transferring money orders, including the transmittal of transaction data from a pre-paid money order receipt. The instant invention is distinguishable, in that it generates a customer account number for money orders only, and allows the customer to use the account number for multiple money orders.
U.S. Patent Application Publication No. 2005/0097046, published on May 5, 2005, to Joy Shantia Singfield, discloses a wireless electronic check (and money order) deposit scanning and cashing machine, with a web-based online account cash management computer application system. The instant invention is distinguishable, in that it generates a customer account number for money orders only, and allows the customer to use the account number for multiple money orders.
Japanese Patent No. 63-41920, published on Feb. 23, 1988, inventors Takaharu Kishimoto and Masaharu Shigeoka, discloses an information inputting system for a money order terminal.
What Is an Electronic Money Order?, hppt://www.wisegeek.com/what-is-an-electronic-money-order.htm (accessed on Sep. 4, 2011) shows that the concept of an individual money holding account for electronic money orders is known, but unlike in the instant invention, a paper document is still created when the money order is sent.
None of the above inventions and patents, taken either singly or in combination, is seen to describe the instant invention as claimed.